A stingey person. Somebody who buys cheap in favour of higher quality or better stuff. Even though they might be able to afford the better. Perhaps ungenerously trying not to spend much on their friends. Not particularly offensive, and often intended to ridicule in a light hearted manner. North American origin (skate apparently meaning fellow).

someone so cheap, he cooks his meals using the work kitchen at the golden eagle refinery so he doesn't have to use electricity at home.

me: greg is so damn cheap!
you: what do you mean?

me: when there arent extra helpings to take home to eat, he stays after his shift is over and cooks his dinner here at work so he doesn't have to use his own electricity

you: doesn't he work more overtime than anyone?

me: yeah, he does ship tie-ups before his regular shift all tihe time and makes a lot but is one big CHEAPSKATE. he's also a lonely jerk who hasn't had a girlfriend in 15 years and is effectively a virgin, due to the lack of play he gets.